The Next 2 Weeks Plus

After 6 years after the end of my National Service, I have been finally summoned by the call of of duty to serve the nation.

Basically I will be spending the most of 2 weeks in camp, undergoing training and physical exercise, and doing nothin much in general. I have armed myself with 12 library books and bought an iPod touch (which I intend to sell at the end of the 3 weeks) because they don’t allow us to bring in camera phones for confidentiality reasons.

I will be making good use of these 3 weeks and making sure that the planning results in a soaring start to 2011. I will be writing posts for epicskillz.com and planning things out for my campaigns and sites. Hint: Outsourcing is a large part of my goals to hit the next income level.

I’m glad that I have managed to finally make it back to $100 per day after such a long period of downtime since my Facebook campaigns got slapped, but things are certainly looking better now.

Things are good on my end, managed to earn a couple thousand from a side-business that somehow worked without too much effort on my part.

Just wanted to post a quick update to keep up the momentum!

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What Makes You Different?

Being privy to multiple businesses both online and offline, this post struck a cord with me.

http://sethgodin.typepad.com/seths_blog/2010/11/be-the-one-that-isnt-easily-replaced.html

The gist is this: to build a successful business, you can be better, be different or be cheaper.

We still see many people take up the last option simply because it’s easier, but it’s easy to see that it’s really the worst option out of the three.

Excellent post by the most prolific writer I subscribe to.

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What Warren Buffet Taught Me About Affiliate Marketing

What has one of the richest men in the world got to teach us mere mortals about affiliate marketing?

Lots actually, but today I’m going to write about the way we look at losses.

The below are sections extracted from the book “The Winning Investment Habits of Warren Buffet and George Soros”.

When you or I lose money, we count the dollars we actually lost. Not Buffet. His loss is what those dollars could have been. Losing money, to him, is a gross violation of his underlying arim, which is to “watch money grow”.

If you lose 50% of your investment capital, you have to double your money just to get back to where you started.

If you can average 12% a year return on your capital, it’s going to take you six years to recover. It would take Buffet about three years and two months at his average return of 27.4%, while at 28.6% Soros could do it in “just two and three quarter years”.

What a waste of time!

Wouldn’t it have been simpler just o have avoided the loss in the first place?

What has this got to do with affiliate marketing?

Simple.

The need to be careful not to lose money (unnecessarily).

The quoted paragraphs slapped me tightly across the cheeks just this past week.

I have finally stumbled upon a couple winning campaigns and have been consistently making $xx a day after a long drought of negative or just-about break-even weeks starting from the time Facebook and POF killed me.

The happiness lasted for almost a week, and then disaster struck.

I accidentally left a high-volume target active in LeadImpact and went to bed. (If I even SAW the keyword, I would never have left it active.)

So I lost a bunch of money, paused the target, and discovered the following day that there was another high-volume and irrelevant target active, so I lost another bunch of money for nothing.

The 2 days of losses combined was more than enough to wipe out the earnings I have painstakingly accumulated for the past week.

The moral of the story is that while you need to dare take risks, especially in a scary sport like affiliate marketing, you need to be really, really careful not to lose money due to circumstances you absolutely, positively can avoid.

Because it takes a ton more time and effort to make money than to lose money.

The End.

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